Australia's digital payments system will be overhauled with greater regulation for buy-now-pay-later companies and cryptocurrency exchanges. The new powers under consideration would give the federal government and regulators like the Reserve Bank greater powers to intervene. Consumer Action Law Centre chief executive Gerard Brody argues a tough new regulator is needed to protect consumers and investors from scams.
Featured: Gerard Brody, Consumer Action Law Centre; Peter Ryan, ABC.

Digital payments crackdown looms with global tech giants to be regulated


Title: US interest rates on hold despite Trump demands to cut
Caption: There's more evidence that Donald Trump's campaign of tariffs is clouding the economic outlook in the United States. The US Federal Reserve has once again defied Mr Trump by not cutting interest rates worried the tariffs war could stoke inflation and hurt the US labour market at the same time..


US interest rates on hold despite Trump demands for Federal Reserve to cut



Title: Donald Trump, Keir Starmer hail limited US-UK trade deal to resolve global tarrif shock
Caption: While the big focus is on white smoke in the Vatican where a new pope has been announced,there's encourging economic white smoke with a new trade deal between Britain and the United States. The important breakthrough is the first trade deal the US has signed after Donald Trump paused his global tariffs campaign last month. So who's the winner? ABC's Peter Ryan explains.
Reporter: Peter Ryan, Senior Business Correspondent
Featured: Donald Trump, US president; Sir Keir Starmer; UK president; Sir Crawford Falconer, former UK trade negotiator










Donald Trump, Keir Starmer hail limited US-UK trade deal to resolve global tarrif shock

US claims "substantial progress” tariff talks with China

US Treasury secretary claims "substantial progress" has been made on brokering a tariff deal with China after Donald Trump imposed a 145 percent tariff on Chinese exports coming into the US and China hit back in kind. Also in Australia, key economic data out this week is likely to lock in anticipated interest rate cut and more to come later this year.



US claims "substantial progress” in high stakes tariff talks with China

There's been a critical truce in the tariff war between the United States and China after the world's two biggest economies agreed tom slash their tariffs on each other for at least 90 days. But the big question is whether this is just a "pause", did Donald Trump "blink"  and could economic hostilities emerge again?

US China tariffs trade impasse paused for 90 days. Did Donald Trump "blink" and can the truce last?



Title: 
Investors with more than $3 million in their superannuation accounts at the moment are increasingly nervous about a proposed new tax that will eat into some super earnings that are yet to be sold or realised. There are concerns that more Australians might be hit in the future given that the proposed levy isn't indexed for inflation if it passes into law. Also, the Telecommunications Industry Ombudsman says there's been a rise in complaints as consumers struggle to pay bills during th cost of living crisis. And economists will be watching the April employment update out this morning - the final data as the Reserve Bank considers an interest rate cut next week. 


Wealthy rush to avoid new superannuation tax on $3 million accounts that targets earnings of unrealised assets


Title: 
Caption: Borrowers hoping to pay down a mortgage a bit faster will be paying close attention to next week's meeting of the Reserve Bank board and the near certainty of an interest rate cut to 3.85 per cent. While economists think the second rate cut this year is locked in, a surging jobs market could see fewer-than-expected rate cuts later this year. ABC's Peter Ryan explains.

Reporter: Peter Ryan, Senior Business Correspondent
Featured: 
Keywords: 














April jobs surge to temper future interest rate cuts

Borrowers paying down steep mortgages are likely to get some extra relief with the Reserve Bank poised to cut official interest rates at tomorrow's board meeting. That would make the second rate cut this year after 13 rate hikes since May 2022 to tame inflation. But economic jury's out on how many more cuts we'll see later this year.
Reporter: Peter Ryan, Senior Business Correspondent
Featured: Besa Deda, chief economist, William Buck



Interest rates relief almost certain tomorrow but economic jury out of more cuts this year with labour market still tight

The Reserve Bank board is highly likely to cut its official cash rate by 0.25 percentage points later today down to 3.85 percent. The big question is whether there'll be followup rate cuts later this year with consumer inflation now back in the middle of the RBA's 2 to 3 percent target band. Economist Warren Hogan says there's a risk inflation could make a comeback given the tight jobs market.
Reporter: Peter Ryan, Senior Business Correspondent
Featured: Warren Hogan, economic advisor, Judo Bank










Reserve Bank poised to deliver interest rate cut but uncertainty about more rates relief given inflation comeback risk

There's a high stakes political showdown underway in Washington at the moment over Donald Trump's proposals for more tax cuts in the United States. Some congressional repubicans - who'd normally back Mr Trump - are nervous about how to pay for the additional tax breaks in the face of concerns the proposal could add trillions to Amerca's already massive debt pile. ABC's Peter Ryan explains.








Wall Street jitters amid worries Trump tax cut bill will add trillions to massive US debt pile

Peter Ryan is the one of the ABC's most experienced journalists, contributing to a range of ABC News programs including the flagship radio current affairs program AM, The World Today, PM and ABC NewsRadio.

With more than 30 years of journalism experience, Peter  rejoined the ABC in 2003 as Executive Producer of the ABC Television's Business Breakfast program.

In 2006, he oversaw the development of two new business programs - Lateline Business on ABC Television and Business Today on the ABC's Asia Pacific television service, Australia Network.

Peter's previous journalism career included three years as the ABC's Head of TV News and Current Affairs in Melbourne; more than four years as Bureau Chief and television correspondent at the ABC's Washington Bureau; a year as a producer at the BBC in London; and a range of ABC reporting and producing roles in Melbourne, Sydney, Darwin and the South Pacific.

In addition to journalism, Peter Ryan spent four years in the corporate communications sector as a Director at Weber Shandwick Worldwide and then as a Principal at Porter Novelli in Melbourne.

Peter began his journalism career in newspapers at Sydney's Daily Mirror and he worked in Sydney commercial radio before joining the ABC in 1984.

All copyright and intellectual property used in these reports resides with the Australian Broadcasting Corporation.

Digital payments crackdown looms with global tech giants to be regulated

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